Common use of Approved Bank Clause in Contracts

Approved Bank. Clause 10.1 of the Agreement is replaced by: "As a broker dealer without permission to provide deposit taking business and pursuant to Applicable Regulations, in particular section 84 WpHG, section 10 of the German Investment Services Rules of Conduct and Organisation Ordinance (Wertpapierdienstleistungs-Verhaltens- und Organisationsverordnung, "WpDVerOV") and Art. 49 of the Commission Delegated Regulation (EU) 2017/565 of 25 April 2016, RBC EG is not allowed to hold client money in its own accounts. In the unlikely event that we hold on your behalf any money belonging to you, we will separate without undue delay your money and hold it on fiduciary accounts (Treuhandkonten). It will be held with credit institutions, their passported branches or other institutions permitted by Applicable Regulations, separately from our own money or other clients' money. We will provide you with the relevant information concerning the safeguarding of your money as required by Applicable Regulations.